The Angels and Mike Trout will enter negotiations about a multiyear contract this spring with the hopes that a deal will be reached shortly after Opening Day, Mike DiGiovanna of the Los Angeles Times reports. Since Trout is still a year away from arbitration eligibility, the Halos could renew his contract for slightly more than the league minimum (as they did last year, with some controversy), though Trout would get a lot more money in his pocket immediately due to a signing bonus from a new extension.
Though the Angels control Trout through the 2017 season, an extension would give them some cost certainty through his three arbitration years, which seem likely to reach record levels. The Halos would surely look to cover at least a couple of Trout's free agent years in an extension, and agent Craig Landis of LSW Baseball could easily ask for at least $25MM for each of his client's free agent years.
The financial terms are mind-boggling for a 22-year-old player who has only 336 Major League games to his name, yet Trout's performance has justified such an inflated price tag. Trout hit .324/.416/.560 with 57 homers in 2012-13, and factoring in his speed (82 steals in 94 attempts) and outfield defense, Trout has accounted for a league-best 20.8 WAR in that span, according to Baseball Reference. If Trout and the Angels are looking for an extension in the range of nine or 10 seasons, such a deal could quite possibly eclipse Alex Rodriguez's 10-year, $275MM contract with the Yankees as the most expensive contract in baseball history.